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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
09/01/2019 ESMA50-157-1391 Advice on Initial Coin Offerings and Crypto-Assets Report PDF
882.48 KB
18/12/2014 2014/1560 Advice- Investment-based crowdfunding Final Report PDF
482.2 KB
Crowdfunding is a means of raising finance for projects from ‘the crowd’ often by means of an internet-based platform through which project owners ‘pitch’ their idea to potential backers, who are typically not professional investors.  It takes many forms, not all of which involve the potential for a financial return.  ESMA’s focus is on crowdfunding which involves investment, as distinct from donation, non-monetary reward or loan agreement.Crowdfunding is relatively young and business models are evolving. EU financial services rules were not designed with the industry in mind.  Within investment-based crowdfunding a range of different operational structures are used so it is not straightforward to map crowdfunding platforms’ activities to those regulated under EU legislation. Member States and NCAs have been working out how to treat crowdfunding, with some dealing with issues case-by-case, some seeking to clarify how crowdfunding fits into existing rules and others introducing specific requirements.To assist NCAs and market participants, and to promote regulatory and supervisory convergence, ESMA has assessed typical investment-based crowdfunding business models and how they could evolve, risks typically involved for project owners, investors and the platforms themselves and the likely components of an appropriate regulatory regime. ESMA then prepared a detailed analysis of how the typical business models map across to the existing EU legislation, set out in sections 1 to 6 of this document.
27/02/2018 ESMA71-319-70 Afore Consulting’s Second Annual FinTech and Digitalisation Conference: Regulation at the European Level and Beyond – Stanhope Hotel Brussels , Speech PDF
168.3 KB
07/03/2017 FI17 Agenda Financial Innovation Day 2017 Reference PDF
598.1 KB
07/01/2016 2015/1914 Agenda for ESMA FI Day Reference PDF
170.52 KB
20/02/2019 ESMA34-32-418 AIFMD MoUs signed by the EU authorities , Reference PDF
105.68 KB
06/10/2017 ESMA/2015/BS/176 A Amendment 2 to the Delegation Agreement- Option A rev1.1 Reference PDF
178.72 KB
06/10/2017 ESMA/2015/BS/176 B Amendment 2 to the Delegation Agreement- Option B rev 1.1 Reference PDF
178.86 KB
06/10/2017 ESMA65-12-1860 Amendment 3 to the Delegation Agreement (FIRDS and TRACE Projects) Reference PDF
188.54 KB
06/10/2017 ESMA65-12-1866 Annex 1.1.A- Description of Tasks (FIRDS Project) Reference PDF
256.71 KB
06/10/2017 ESMA65-12-1867 Annex 1.1.B- Description of Tasks (FIRDS Project) Reference PDF
258.14 KB
06/10/2017 ESMA/2016/1144 Annex 1.3 Annex 1.3- Description of Tasks Reference PDF
144.86 KB
06/10/2017 ESMA65-12-1929 Annex 2.1- Project Presentation Document (FIRDS Project) Reference PDF
966.34 KB
06/10/2017 ESMA/2016/1144 Annex 2.3 Annex 2.3- Project Presentation Document (TRACE Project) Reference PDF
379.91 KB
06/10/2017 ESMA65-316-2651 Annex 3.1- Instruments SLA Reference PDF
299.44 KB
06/10/2017 ESMA/2016/1144 Annex 3.3 Annex 3.3- Access to Trade Repositories SLA (TRACE Project) Reference PDF
293.75 KB
06/10/2017 ESMA65-12-1864 Annex 4.1- Financial contributions (FIRDS Project) Reference PDF
262.05 KB
06/10/2017 ESMA65-12-1931 Annex 4.3- Financial contributions (TRACE Project) Reference PDF
253 KB
06/10/2017 ESMA65-12-1863 Annex 5.1- Project Work Plan (FIRDS Project) Reference PDF
234.25 KB
06/10/2017 ESMA/2016/1144 Annex 5.3 Annex 5.3- Project Work plan (TRACE Project) Reference PDF
245.92 KB

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